Re: Why is Credit Counceling frowned upon and Bankruptcy is not

Posted by Why Chat on February 22, 2002 at 18:33:09:

In Reply to: Why is Credit Counceling frowned upon and Bankruptcy is not posted by Dave (Indiana) on February 22, 2002 at 16:14:32:

You have hit on the big problem of trying to do the right thing and getting clobbered for it. It used to be,not that long ago,that being honest,facing up to your responsibility and paying off your debts was rewarded, while bankruptcy and being a deadbeat was considered shameful.Now it is reversed, due largely to the credit industry itself that feeds off the results of it's own excesses by high interest rates and credit "reporting"(misreporting)agencies credit "repair"(cripple) companies, and credit "collection"(dunning) industries.
Do the right thing,and continue to suffer, or declare BK and join the rest of the "smart guys".

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